British Food company Unigate has bought Unipork in Northern Ireland in a deal worth £27 million sterling. Unipork, which employs 700 people, processes and packages fresh pork and a range of other pigmeat products including cooked meats and bacon.

In the year to June last, the company's turnover was £55.9 million. The deal involves a cash payment of £10.6 million and the assumption of bank and other debt of £16.6 million.

Unigate said it had financed the acquisition from its cash resources. It said the purchase of Unipork, which has two processing plants in Northern Ireland, at Cookstown and Enniskillen, will help it secure a long term business in Ireland.

The 400 staff at Ballymoney who were retained on the pay roll will be offered the opportunity to transfer to Ahoghill. Unigate said the immediate challenge was to work together to provide an improved integrated pig processing capability. The Unigate group employs 27,000 people worldwide and has an annual turnover of around £2.1 billion.

The Irish Farmers Association (IFA) last night welcomed the news that Unigate had bought the Unipork facilities.